Western Forest Prod (TSE:WEF) has released an update.
Western Forest Products Inc. has successfully sold a 34% stake in its newly established La-kwa sa muqw Forestry Partnership to the Tlowitsis, We Wai Kai, Wei Wai Kum, and K’ómoks First Nations for $35.9 million. The partnership, formed to manage 157,000 hectares of forest land on Vancouver Island, signifies a move towards a collaborative and inclusive approach to forestry management. The transaction also supports Western’s BC coastal operations with a long-term fibre agreement.
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